India had already lost the hosting rights for the 2021 men’s world championship for non-payment of host fee (USD 400,000).

The Boxing Federation of India (BFI) will shell out USD 120,000 by May 20 after being threatened with suspension by AIBA. Faced with the wrath of the International Boxing Association (AIBA) for non-payment of dues, BFI has always garnered wrong attention for their poor decision-making and careless functionary. AIBA had already stripped India from the hosting rights of the 2021 men’s world championship for non-payment of host fee (USD 400,000). The world body also imposed a penalty of USD 500,000 on the national federation. Also Read - AIBA Alleges Boxing Federation of India Yet to Pay Hosting Fee For 2018 World Championships

“We are hopeful of an amicable solution to the entire issue,” he added, hoping that the penalty would be waived off after negotiations.

The AIBA has set a deadline for the end of this month.

“…we remind you that, according to the AIBA statutes, a National Federation may be suspended if it fails to pay its debt towards AIBA,” stated a letter from the AIBA, which has been sent to the national body.

The AIBA stated that depending on whether India complies with the deadline, it will take up the case of BFI at its ongoing online executive committee meetings.

AIBA Interim President Mohamed Moustahsane had earlier stated that India failed to deliver on payment of the host city fee by the December 1, 2019 deadline, forcing the world body to award the 2021 event to Serbia.